The Growing Potential of the Transport Sector

October 15, 2013September 28, 2015

by Martin Berger

The global transportation services industry plays a vital role in our global economy, with all types of business sectors reliant on transportation services to distribute their goods and services as well as access raw materials. Security is one of the main priorities on which transportation services providers need to focus.

The Transport Sector

According to the European Commission the transport and storage services accounted for around £460 billion in Gross Value Added (GVA) in 2012, making for about 5% of total GVA in the European Union. The transport sector also employs 5.1% of the European Union’s total workforce.

Although the transport industry was influenced by the recent economic crisis, the industry’s growth has not been threatened. It has successfully maintained positive figures, and a growth rate of 37 % is expected between 2012 and 2016. The development of transport infrastructure is a significant target of EU investments and more than £7 billion has already been spent on infrastructural projects in the last 5 years.

The UK Department for Transport also forecasts positive future growth of the transport industry, which is mainly based on four key factors:

A rise in population is expected, meaning that there will be more people choosing to travel for business and personal needs, and more transportation of goods and services

Further economic growth will increase demand for goods and services

With the introduction of new technologies and recent oil discoveries in Australia and Brazil, fuel costs are expected to fall by 7% between 2010 and 2040

The UK’s government plan to significantly update current road network

A recent forecast from the UK Department for Transport suggests that the demand for air travel is expected to increase by 3% a year, together with an increase in passenger numbers from 220 million in 2012 to 315 million in 2030. The UK’s road freight industry has returned to pre-crisis revenue and modest growth is expected over the next five years.

Breaking down the language barrier

With growing numbers, going international today seems like a great choice with a lot of potential. If you want to expand across the border, communicating in the right language is a key factor. Hiring a professional translator is the safest way to break down the language barrier and gain entry into any foreign transport market.

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